ActionAid recently issued a report criticising the expansion of climate risk insurance markets for the poor and vulnerable and urging African Risk Capacity (ARC), the G7, World Bank, Insurance Development Forum and others to halt their work in this space. ActionAid’s stance and recommendations, as presented in the report, are misguided. In an attempt to validate its position on the issue, ActionAid suggested that ARC’s sovereign disaster risk insurance failed in Malawi.

The 29th African Union Summit is taking place in Addis Ababa, Ethiopia from 29 June to 4 July 2017. African Heads of State, African Union Commissioners, and African governments officials across the continent are convening to discuss pressing issues on the continent and African-led solutions to address them. As a Specialized Agency of the African Union, African Risk Capacity is attending the AU Summit and presenting our comprehensive solution to detecting, funding, and responding to climate risks.

In a recent blog from the International Institute for Environment and Development (IIED), ARC focal point and senior economist in the National Treasury of Kenya, Vincent Mutie Nzau, explains the importance of disaster risk financing in drought-prone countries like Kenya. With average annual costs for drought damage in Kenya estimated at some US$1.25 billion, access to funding before and after disaster strikes is fundamental for reducing the impact of shocks for the most vulnerable. "Disaster risk finance takes many shapes in Kenya," says Nzau - one of those shapes is ARC.

In May 2017, ARC Agency and ARC Ltd attended the African Development Bank Annual Meetings to discuss the role of innovative finance in transforming agriculture into wealth creation in Africa. On the sidelines of panels and discussions, ARC Agency Director-General and Chairman of the Board of ARC Insurance Company Limited - Mr. Mohamed Béavogui and Mr.

The Conference of Parties is the supreme governing body of the African Risk Capacity (ARC) Agency, consistent of African Union member states that have signed the ARC Establishment Treaty and affirmed their belief in need for a pan-African solution to managing climate risk.

[box type="shadow" align="" class="" width=""]Assia Sidibe, ARC Head of Goverment Services for West and Central Africa, published a piece in the Guardian illustrating how risk pools and insurance programmes like ARC can save hundreds of thousands of lives, especially as international aid funding grows uncertain and unsustainable. The text is reproduced below.

For the second year in a row, the African Risk Capacity Insurance Company Ltd (ARC Ltd) won the CFI.co award for Most Innovative ESG Risk Protection Provider for Africa.

11 March 2017 - ARC is currently monitoring the ex Tropical Cyclone ENAWO whose wind speeds have dropped below 34 kts. A new update will be release if the storm's winds increase above the threshold or when it ends.